DIGITAL TRANSFORMATION RECENT DEVELOPMENTS AND APPLICATIONS

Readers might have by now familiarised themselves with eight deep digital technologies and various related dimensions of digital transformations.

Recent Developments and Business Opportunities

However, there is no reason to be complacent. In this Industry 4.0 era every day is a day of learning. Nurturing this habit will help seizing business opportunities in manufacturing new products and providing services. But one must be wedded to the problem to be solved and not the idea to be converted to a product. Unprecedented opportunities are surfacing almost every day from digital scientists and ‘startupians’ ‘innoventing’ new products and digital solutions. Updated information will be the most powerful driver for retaining competitive advantages with desirable ROI, remaining market-relevant and ensuring sustainable growth.

Bloomberg has conducted research1 on the megatrends that will impact certain business sectors in 2020 and beyond. Some of their major findings and predictions are as under:

• Copenhagen has pledged to become world’s first Carbon-neutral City by 2025;

• Global smart cities market is expected to grow to $ 717.2 Bln. by 2023, up from $ 308 Bln. in 2018;

• All top ten of the world’s fastest-growing cities in terms of GDP will be in India;

• Copenhagen has pledged to become world’s first Carbon-neutral City by 2025;

• Global smart cities market is expected to grow to $ 717.2 Bln. by 2023, up from $ 308 Bln. in 2018;

• All top ten of the world’s fastest-growing cities in terms of GDP will be in India;

• Social and environmental considerations will become critical drivers of decision making;

• Connected devices will be seven times of world population;

• Smart home technology market will reach $53.45 Bln. by 2025;

• Smart fridges will advise when food items will expire and to be replenished in what quantity;

• Smart mattresses and pillows will monitor sleep pattern and generate information;